LNG

Australian Industrial Energy, a company controlled by billionaire businessman Andrew Forrest, has signed a long-term charter deal with Höegh LNG for a floating storage and regasification unit (FSRU) to operate at Port Kembla, south of Sydney

Australia's AGL Energy has pushed its case for regulatory approval for its liquefied natural gas import project at Crib Point in southeast Australian in the largest ever environmental assessment inquiry held in the state of Victoria.

Australia is on track for record LNG shipments to remain the world’s largest exporting country, ahead of Qatar and the US, even in a year when two plants suffered long shutdowns and economies worldwide were slowed by the Covid-19 pandemic.

Australian Industrial Energy, a company controlled by billionaire businessman Andrew Forrest, has signed a site lease for up to 25 years with New South Wales Ports for the Port Kembla Gas Terminal project to handle LNG shipments and resolve gas shortages in the region.

Venice Energy, the group planning a project to import LNG into South Australia, said it signed a project agreement with Flinders Ports that sets out the framework to support the development of the floating facility in Port Adelaide.

A concept design has been agreed by both companies that would guide the development of two new operating berths as well as associated onshore facilities at Outer Harbor, subject to development approval.

Venice Energy said its LNG import facility would enhance the supply of gas to South Australian domestic and industrial users.

Managing Director of Venice Energy, Kym Winter-Dewhirst, said the terminal would bring significant benefits to the state.

“Importing LNG into South Australia will improve and diversify local gas supplies, especially during peak periods and help to underpin South Australia’s globally leading renewables sector by providing firm despatchable energy at times when wind and solar are not operating,” explained Winter-Dewhirst.

“It will also increase the State’s energy security and enable downward pressure on gas prices for all users,” he added.

“Our proposed facility is expected to bring around 80 petajoules per annum (2.14 billion cubic metres) of natural gas into South Australia and with supplies forecast to tighten in just a few years’ time, importing LNG makes sense,” he stated.

The proposed facility would be located adjacent to the Pelican Point gas fired power station next to the already productive Flinders Ports quay line.

Subject to various approvals and other issues set out in the project agreement with Flinders Ports, the facility is expected to be operational by 2022.

At least two other Australian LNG import projects are progressing, including one by billionaire businessman Andrew Forrest's Squadron Energy in New South Wales at Port Kembla, south of Sydney.

A second Australian LNG import project is proposed at Crib Point at the Port of Hastings in the state of Victoria by AGL Energy.

Australia, while being the world's largest LNG exporter, is moving to LNG imports in southeast Australia because of natural gas shortages for industrial and domestic retail supplies.

Oct 16 (LNGJ) – An Australian public inquiry has begun into AGL Energy’s proposed Crib Point LNG import project. The venture has drawn a record number of objections for environmental reasons, taking no account of the serious domestic gas shortages faced by the southern states as production offshore Victoria starts to decline around 2023.

   The Crib Point LNG project has a price tag of A$300 million (US$208M) and involves a floating terminal moored at a newly constructed jetty for LNG carriers making deliveries. The venture also includes a 55-kilometres natural gas pipeline to the Melbourne satellite town of Pakenham to connect to the Victorian gas grid. 

AGL Energy of Australia has pledged at the annual meeting to pursue the Crib Point LNG project on Westernport Bay, south of Melbourne in the state of Victoria as one of the vital tools in the cleaner energy transition.

Hoegh LNG, the Norwegian fleet owner and floating import project developer, reported rising profits as it advanced with projects to supply two Australian states with natural gas, while focusing on China and listing more than a dozen other countries likely to deploy floating storage and regasification units as terminals.

Dec 21 (LNGJ) - Hoegh LNG, the Norwegian fleet owner and specialist in floating storage and regasification unit projects, said it signed a charter accord with Australian company AGL Energy for the provision of an FSRU for a venture at Crib Point in the state of Victoria. Hoegh said the charter was for 10 years and was conditional on AGL taking a final investment decision for the venture, scheduled for start-up by 2021.

   The Norwegian company estimates annual earnings from the charter of between US$29 million and US$31M, depending on technical specifications. “We are delighted to have been awarded the contract with AGL for their new LNG import project,” said Hoegh President and Chief Executive Sveinung J. S. Stohle. “ Our modern FSRU solutions offer our clients the quickest, most cost-efficient and most flexible method of connecting a new market to global LNG trade,” added the CEO.

A South Korea-based liquefied natural gas project company has signed a development agreement with the Australian port of Newcastle, north of Sydney, to commence preliminary works on a proposed LNG import terminal using a floating storage and regasification unit.